Focus on the US Jobs Report and European Market Trends

Friday, 8 March 2024, 06:05
The European market remains subdued as traders await the US jobs report, impacting major currencies' movements. EUR/USD climbs after the ECB meeting, while USD/JPY and USD/CAD face technical challenges. The upcoming non-farm payrolls data is crucial, with market sentiment leaning towards a softer dollar and stronger risk trades. European trading is slow until the US report, with key economic data releases expected throughout the day.
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Focus on the US Jobs Report and European Market Trends

Key Points:

Major currencies see limited movement ahead of the US jobs report

Currency Updates:

  • EUR/USD: Rises to seven-week high near 1.0950 after ECB meeting
  • USD/JPY and USD/CAD: Face potential technical breaks
  • AUD/USD: Reaches fresh seven-week highs at 0.6630

The main focus today is on the non-farm payrolls data and market sentiment centered around a weaker dollar and stronger risk trades.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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